So XRP is a beautiful example of crypto.
They can boost in a couple of days towards a new ATH (FOMO, hype etc.).
However, the correction will last much longer.
This was an expensive lesson to the ones who bought in around $2 or so.
Remember a coin has to recover from its huge upward movement.
So did XRP/BTC. It completed its A and B and is now closing in on its C.
My guess is that the C will be nearby the fib 0.786 level.
Personally I think that IF BTC makes a drop towards 8/9k > XRP can touch around $0.6-$0.8 for sure.
The end of the correction is nearby:
- on the daily is oversold and is going towards a crossover, but can go lower.
- also nearby oversold, but can go lower.
WATCH the buy-in levels.
My target for XRP/BTC is around $5.
If you have any questions about my charts or opinion, or you have an coin you want reviewed, please ask me in the comments!
This is how i do my laddering work.
Choose openings and closing price: for example start buying in at $1 and stop buying in at $0.7.
Then spread it out on different buy-orders, with the (percentually) highest buys in the middle. For example:
$1 - 5%
$0.95 - 10%
$0.90 - 10%
$0.87 - 15%
$0.85 - 20%
$0.82 - 15%
$0.8 - 10%
$0.75 - 10%
$0.7 - 5%
This is just an example, so don't follow this blind. Its just an advice.
Remember always DYOR!!!
Currently hoping that BTC will touch $8k ish. Then most of my buy-orders would hit.
Watch for bull traps